breaking news OneUp Trader Review 2023 • Prop Trading
OneUp Trader Ratings at a Glance
Based in Wilmington Deleware, OneUp Trader is an ancillary trading company offering funded trading accounts. Accessory companies find qualified traders and match them with reputable financing partners if they pass the assessment. Traders must achieve the profit target by following the rules and trading for at least 15 days. For a fee, you can trade an account worth up to $250,000.
The process is as follows;
- You choose a funded trading trial account.
- You follow the rules and trade a minimum of 15 days.
- Reviewing your account takes 2-3 days.
- Funding partners send you a contract and login details for your new funded trading account.
- You start trading risk-free as a funded trader.
The process can be summarized as follows:
1. Choose the trial account of your choice ($25,000 to $250,000)
2. Complete the valuation in at least 15 trading days.
3. Receive funding from an accessory trading company
If you want to try OneUp prop trading before you commit any money, you can start a seven-day free trial.
Funded trading rules
OneUp Traders funded account trading rules include the following.
- trade only authorized instruments during authorized hours.
- Do not let your account balance reach or exceed the Trailing draw.
- Track dynamic scaling targets.
- All positions must be closed before and during major economic releases.
- Must maintain a minimum total weekly trade execution of at least 50% of the average number of successfully completed trades during the assessment. Trading volume is calculated and valued on a weekly basis at the end of that trading week. Average weekly trading volume execution calculations do not include CME holidays and will be pro-rated for those weeks. Must notify and seek approval of funding partner account hold for extended inactivity requests.
- Must have a net positive PnL greater than the initial starting balance at the end of the 15 calendar days and within subsequent 15 calendar day intervals – The rule only applies during the initial 90 day probationary period, starting on day one account trading. Discretionary warnings are issued if the account balance is lower than the initial starting balance.
The number of contracts you can hold differs depending on account size, as do the maximum losses, profit targets and drawdown amounts. If you break the rules, you will lose your funded trading account, although OneUp gives you a chance to fix the problem.
If you break the rules a second time, you must retake the benchmark test to reopen your account. The cost to reset the account is $100. The number of times you can reset your funded trading account is unlimited.
The platform provides a social network where users can share notes and tips. It also provides market information, live economic data and a range of financial analysis tools. You can use the Ninja Trading platform for free. Once you pass the assessment, you can use any of the 20 trading platforms for trading and analysis, although you pay for using the platform.
Before you can start trading, you will need to pass an eligibility test. You have 15 business days to prove your trading skills in the online assessment. If you pass the assessment, you must complete a questionnaire and sign a contract before receiving funds to trade.
OneUp Trader offers high quality real-time customer service 24/7. You have access to the OneUp business community via Discord. Moreover, OneUp Trader provides users with a lot of educational information through quality webinars and videos.
If you decide you want to be funded by OneUp, you will pay a subscription based on your desired account value. Funds will be available for you to start trading within days. Keep 100% of your profits up to $10,000, after which you keep 90% of the profits.
Funded merchants pay no data charges, saving $444 per month. Enjoy free unlimited profit withdrawals after funding and withdraw funds as soon as you have made a profit. Withdrawal requests are processed the same day.
Other similar platforms make traders wait for weeks before they can withdraw their funds. Because competing backers are often the recruiters, they don’t want merchants to make withdrawals. At OneUp Trading, our funding partners have no role in recruitment, so there is no conflict of interest.
You can choose from five accounts, depending on your trading style, risk tolerance and budget. The lowest ($25,000) account costs $125 per month and the highest ($250,000) costs $650 per month.
OneUp Trader offers a one-step assessment with fair and achievable goals. Creating an account only takes a few minutes. Once you pass the assessment, you will receive funding within days. There are no restrictions on how you trade.
Financial partners are fair, using a two-strike policy for rule violations. They use a breakthrough drawdown that increases a set distance as the account balance increases. The trailing drawdown is a self-liquidation threshold value; this is the maximum your account can lose. If the account balance falls below this balance, it will not be eligible for funding. But once the final withdrawal reaches your original starting balance, it does not change.
OneUp Trader vs Competitors
Competition is tough in the accessory trade environment, so companies have developed innovative products to capture market share. Each product offering differs in many respects, including eligibility testing, fund availability, and trading options. All accessory trading companies offer training and support and charge subscriptions or service fees. Here are some comparisons.
|OneUp Merchants||upper stage||FTMO|
|Assessment||One-step valuation over 15 trading days||Two-stage assessment with stricter criteria in the second stage||Two-step evaluation|
|Funds||$25,000 – $250,000||$50,000 – $150,000||Up to $400,000|
|Cost||$125 to $650||$495 for three months; $990 for six||$199 to $5,000|
|Free try||7 days||14 days||A short version of the FTMO challenge|
|Marketable assets||CMEFutures, including commodities and equities||Futures contracts, including forex and stocks||Forex|
|Training and analysis||Webinars, videos, analytics tools||Videos, tutorials, analysis tools||Internal training videos and analysis tools|
In the area of prop trading, OneUp Trader offers a solid offer. One-step assessment is simpler than required by many competitors. The company offers five account options with different rules and subscriptions and a wide range of trading options. OneUp Trader also provides traders with a wide range of educational materials and market analysis tools.
Frequently Asked Questions
What are the OneUp Trader trading hours?
Trading hours for OneUp Trader begin at 5:00 p.m. CT and end at 3:15 p.m. CT the next day (excluding holidays and weekends).
Yes, the company has been in business for over 7 years and has funded thousands of merchants through its funded merchant program. Their Trustpilot reviews have many positive reviews regarding the user experience.
Is there a limit on withdrawals?
No, as a funded trader you can withdraw profits at any time. There are no maximums or restrictions on withdrawals.
Is there a daily loss limit?
No, there is no daily loss limit rule on valuation and capitalization accounts. A huge plus for trading freely.
What is the payment method for withdrawals?
Withdrawals are processed same day upon request via wire transfer and cryptocurrency Monday through Friday.
Is OneUp Trader a finance company?
No, OneUp Trader is a recruitment company for traders seeking funding from accessory businesses. They have multiple financial partners and align their interests with those of traders.
Do I have to provide my own funds when I am funded?
No, the funding partners fund your trading account when you pass the trial account. Also, the trader is never liable for losses.
Is there a time limit to complete the assessment?
No, you can take as long as you want to complete the assessment, there are no restrictions. You only need to trade for a minimum of 15 days, but you can keep trading for as long as it takes to reach your profit target, even if it takes 3 months.